Question

Fill in the missing amounts in each of the eight case situations below. Each case is...

Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then compute the missing items.)

b. Assume that more than one product is being sold in each of the four following case situations

Assume that more than one product is being sold in each of the four following case situations:
Case #1 Case #2 Case #3 Case #4
Sales $500,000 $400,000 $250,000 $600,000
Variable expenses 400,000 260,000 100,000 420,000
Fixed expenses ? 100,000 130,000 185,000
Net operating income (loss) $7,000 ? $20,000 $(5,000)
Contribution margin ratio (percent) 20 % 35 % 60 % 30 %
Business   Accounting   
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Homework Answers

Answer #1

Contribution margin=Sales-Variable expenses

Contribution margin ratio=Contribution margin/Sales

Contribution margin-Fixed expenses=Net operating income

Hence Contribution margin for :

Case 1=(500,000*20%)=100,000

Case 2=(400,000*35%)=140,000

Case 3=(250000*60%)=150,000

Case 4=(600,000*30%)=$180,000

Case 1 Case 2 Case 3 Case 4
Sales 500,000 400,000 250,000 600,000
Variable expenses 400,000 260,000 100,000 420,000
Fixed expenses (100,000-7000)=$93000 100,000 130,000 185000
Net operating income 7000 (140000-100,000)=$40,000 20000 (5000)
Contribution margin ratio 20% 35% 60% 30%
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